Borrowers in rural
areas have easier
access to affordable
housing due to
partnerships with
the Rural Housing
Service on its
Section 502
Guaranteed Rural
Housing Loan and its
Rural Direct
Leveraging Loan. The
loans are backed by
the Rural Housing
Service, a division
of the U.S.
Department of
Agriculture. To
learn more: Contact
the nearest RHS
office for
information on
qualified areas
within your state
and names of
participating
lenders. The RHS Web
site may also
provide additional
information.

Advantages: No down
payment is required
for low- and
moderate-income
buyers. Affordable
monthly mortgage
payments. Often
times, below market
interest rates are
offered on the Rural
Direct Leveraging
Loan. No cash
reserves required in
your savings account
when you go to
closing. You need
less cash up-front
than you would for
FHA loans.

Different Mortgage
Loan TypesThere are many
different types of
mortgages - make
sure you do your
homework to pick the
one that's right for
you! Below is a list
of the most commonly
used mortgages and a
short description of
each. You may also
think about allowing
one of our many
qualified loan
professionals to
assist you in
choosing the right
loan.